Oclassen Pharmaceuticals Inc., Watson deal

WATS is acquiring Oclassen in a stock-for-stock merger that will be accounted for as a pooling of interests (see Noteworthy, BioCentury Part I). Oclassen shareholders will receive WATS common shares valued at $135 million as long as WATS trades between $27 and $35. If the stock trades above $35, Oclassen shareholders will receive 3.9 million WATS shares; and if the stock trades below $27, Oclassen shareholders will receive 5 million WATS shares. ...